Your own accredited accountant
All returns and filing included
Unlimited help and advice
Leading cloud accounting software
Real-Time Bookkeeping
Reminders – never miss a deadline
We understand that you need to “know the numbers” for your business and our accounts preparation service provides these to you. The standard profit and loss account and balance sheet have been the tried and tested standard reports about the performance of a business.
At Accounting Wise we go further, using the latest software to produce reports that help clients make decisions on issues like: what effect a price increase would have? What is the effect the current debtor to creditors ratio is having on cash flow? Another popular report is the 9 month report – put simply, this report gives you a picture of your business at a stage when beneficial changes could still be made to your tax liabilities.
Get started with the right accounting support for your business
Get started with the right accounting solution for your business
Requirement to Produce Accounts
Most businesses are required to produce a set of accounts at least once per year. These accounts will form the basis for the tax return which tells HMRC how much tax is owed.
Benefits of Reviewing Accounts
Aside from accounts being a requirement, as a business, you can benefit greatly from carefully considering the information within your set of accounts. Accounts can tell you how well your business is doing and may highlight areas that need to be addressed.
Identifying Areas for Improvement
For example, if you sell products or offer a service and your accounts show that your margins are too slim, you may decide to increase your prices or negotiate harder with your suppliers to increase profit and keep your business healthy.
The Value of Good Accounts
This is just one example from among hundreds or possibly thousands of why a good set of accounts can help both you and your business. There is a vast amount of information contained within a set of accounts that can be utilised to improve your business.
Frequency of Account Production
Accounts can be produced as frequently as you need them. So, if you require frequent up-to-date information about the performance of your business, then monthly management accounts will possibly be best suited for you. However, if your business is very small and you have a rough idea of how well you are doing, then you may only want the statutory annual accounts.
Importance of Professional Account Preparation
It is nearly always better for a professional to produce your business’ accounts because an accurate and comprehensive set of accounts will be of much more use to both you and your business, and will ensure that you are paying the correct amount of tax to HMRC.
Your accounts are a report based upon the bookkeeping of your business, whether you have completed the bookkeeping yourself or we have completed the bookkeeping on your behalf; Accounting Wise will check the bookkeeping to ensure that there are no mistakes or omissions before we start the account preparation process.
During account preparation Accounting Wise will produce a set of ‘working papers’ which will be used to make all the necessary calculations required to turn the bookkeeping figures into a full set of accounts.
Your accounts will then be reviewed to double check all work, and produce a series of recommendations for you if any have been found. These recommendations can be things like whether or not it is beneficial for your business to be VAT registered, a recommended change to the structure of your business or even things like whether or not a pension review would be beneficial.
Once account preparation is complete, Accounting Wise will provide you with a copy of the accounts for your review. Once you are happy with the accounts, and any amendments have been made, the tax return is produced and submitted to HMRC.
Get started with the right accounting support for your business
Our online accountants have a range of qualifications from the Association of Accounting Technicians (AAT), Association of Chartered Certified Accountants (ACCA) and the Institute of Chartered Accountants in England and Wales (ICAEW). We are also an Institute of Certified Practising Accountants (ICPA) accredited firm, and a HMRC registered Agent.
Get started with the right accounting solution for your business
1 Choose Your Package
Choose from our pre-built packages or customise your own to see exactly what services you need and how much you’ll pay each month. We make it easy to find the perfect fit for your business!
2 Sign up with Us
After selecting your preferred level of service, simply provide a few additional details to register with us through our easy sign-up form or by giving us a call. It’s that simple to get started!
3 You’re ready to go
That is it, we will begin to set your services up for you, contact you previous accountant if required, and begin the authorisation process with the HMRC
Everything you need in one place
All official documents provided
Online Hub to manage your company
London Registered office Address
Your own incorporated limited company
Get started with the right accounting solution for your business
